Seaport Res Ptn Issues Optimistic Forecast for PEG Earnings

Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) - Equities researchers at Seaport Res Ptn raised their FY2025 earnings per share estimates for Public Service Enterprise Group in a note issued to investors on Thursday, July 17th. Seaport Res Ptn analyst A. Storozynski now anticipates that the utilities provider will earn $4.01 per share for the year, up from their previous forecast of $4.00. The consensus estimate for Public Service Enterprise Group's current full-year earnings is $3.67 per share. Seaport Res Ptn also issued estimates for Public Service Enterprise Group's FY2028 earnings at $5.39 EPS.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last released its earnings results on Wednesday, April 30th. The utilities provider reported $1.43 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $1.43. The company had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.15 billion. Public Service Enterprise Group had a net margin of 17.01% and a return on equity of 11.80%. The firm's quarterly revenue was up 16.7% on a year-over-year basis. During the same period in the prior year, the firm earned $1.31 EPS.

Several other equities analysts have also commented on the company. Barclays dropped their target price on Public Service Enterprise Group from $83.00 to $82.00 and set an "equal weight" rating for the company in a research note on Thursday, July 10th. UBS Group upgraded shares of Public Service Enterprise Group from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $86.00 to $97.00 in a report on Monday, July 7th. BMO Capital Markets lowered their target price on shares of Public Service Enterprise Group from $86.00 to $83.00 and set a "market perform" rating for the company in a report on Thursday, April 10th. Wall Street Zen downgraded shares of Public Service Enterprise Group from a "hold" rating to a "sell" rating in a research note on Sunday. Finally, Evercore ISI lowered their price objective on shares of Public Service Enterprise Group from $99.00 to $92.00 and set an "outperform" rating for the company in a research note on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Public Service Enterprise Group presently has an average rating of "Hold" and an average target price of $89.86.

Public Service Enterprise Group Trading Up 1.9%

Shares of PEG opened at $84.31 on Monday. Public Service Enterprise Group has a fifty-two week low of $73.83 and a fifty-two week high of $95.22. The stock has a fifty day moving average of $80.98 and a two-hundred day moving average of $82.05. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.65 and a current ratio of 0.82. The company has a market capitalization of $42.07 billion, a PE ratio of 23.04, a price-to-earnings-growth ratio of 3.02 and a beta of 0.48.

Hedge Funds Weigh In On Public Service Enterprise Group

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Transce3nd LLC acquired a new position in shares of Public Service Enterprise Group in the fourth quarter worth about $25,000. Chapman Financial Group LLC purchased a new stake in Public Service Enterprise Group during the 4th quarter worth approximately $25,000. REAP Financial Group LLC raised its position in shares of Public Service Enterprise Group by 105.9% in the 4th quarter. REAP Financial Group LLC now owns 315 shares of the utilities provider's stock valued at $27,000 after purchasing an additional 162 shares in the last quarter. Headlands Technologies LLC purchased a new position in shares of Public Service Enterprise Group during the 1st quarter valued at approximately $32,000. Finally, Wealth Preservation Advisors LLC acquired a new stake in shares of Public Service Enterprise Group during the first quarter worth approximately $33,000. Hedge funds and other institutional investors own 73.34% of the company's stock.

Insider Buying and Selling

In other news, CEO Ralph A. Larossa sold 1,387 shares of the stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $83.12, for a total value of $115,287.44. Following the completion of the sale, the chief executive officer owned 218,328 shares in the company, valued at approximately $18,147,423.36. This trade represents a 0.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.19% of the stock is owned by company insiders.

Public Service Enterprise Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 9th were issued a $0.63 dividend. The ex-dividend date was Monday, June 9th. This represents a $2.52 annualized dividend and a yield of 2.99%. Public Service Enterprise Group's dividend payout ratio is currently 68.85%.

About Public Service Enterprise Group

Public Service Enterprise Group Incorporated, through its subsidiaries, operates in electric and gas utility business in the United States. It operates through PSE&G and PSEG Power segments. The PSE&G segment transmits electricity; distributes electricity and natural gas to residential, commercial, and industrial customers; and appliance services and repairs to customers through its service territory, as well as invests in solar generation projects, and energy efficiency and related programs.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.